The SARFAESI Act went into effect in 2002.
In contrast to financial exclusion, which occurs when those services are unavailable or unaffordable, financial inclusion or inclusive finance refers to the provision of financial services at reasonable costs to sectors of the underprivileged and low-income segments of society.
A theory of economics known as purchasing power parity (PPP) roughly calculates the total adjustment that must be made to the currency exchange rate between nations in order for the exchange to be equal to the purchasing power of each nation's currency.
Repo rate refers to the interest rate at which the RBI lends money to commercial banks. It serves as a tool for monetary policy. Banks can borrow money from the RBI if they are short on cash. Banks are able to borrow money at a lower cost when the repo rate is reduced, and vice versa.
Banking is done using the internet and mobile devices.
An asset management company (AMC) is a business that makes investments in securities that align with its stated financial objectives using funds collected from clients. Investors have more investment options and diversity thanks to asset management firms than they otherwise would.
The margin standing facility (MSF) rate is the cost at which the scheduled banks can overnight borrow money from the RBI in exchange for government assets.
The Bank of England, which was established in 1694, is the UK's central bank. The Bank, also referred to as the "Old Lady" of Threadneedle Street, serves to further the welfare of the British people by preserving monetary and financial stability.
The year 1995 saw the introduction of this program.
The economy experiences a money shortage as a cause of increasing inflation, which decreases the purchasing power.
The card program launched by NPCI is called RuPay.
People's capacity to purchase products is reduced by price inflation. If an employee's pay stays the same but the cost of things rises, they will be able to purchase fewer items. People will be able to purchase more goods when wages rise.
Commercial banks are required to retain a minimum amount of reserves, either in cash or as deposits with the central bank, known as the cash reserve ratio (CRR), which is a percentage of all customer deposits. The CRR is determined in accordance with the policies of the nation's central bank.
In 2009, the production of Rs. 5 notes, which had previously ceased, resumed.
The concept of diversification involves allocating resources in a way that minimizes exposure to any one specific asset or risk. Investing in a variety of assets can help lower risk or volatility, which is a frequent step towards diversification.
A commercial bank is a bank that provides services to both businesses and the general population.
